Mammoth Lakes CA Real Estate Blog

Mammoth Lakes Real Estate Market Trends August 28, 2017

Deer Valley Ski Area, Utah Many of you may have already heard about the acquisition of Mammoth Mountain by KSL/Crown Family, who also just purchased Deer Valley in Utah.  The KSL/Crown company will come up with a new name and brand for the new partnership with a growing portfolio of ski resorts in North America.  Similar to Vail’s “Epic Pass”, eventually, Mammoth passholders will most likely have access to the conglomerate of ski resorts owned by KSL/Crown, which include:  Aspen Highlands, Colorado, Aspen Mountain, Colorado, Buttermilk, Colorado, Snowmass Ski Area, Colorado, Alpine Meadows, California, Bear Mountain Resort, California, Blue Mountain, Ontario, June Mountain, California, Mammoth, California, Snow Summit, California, Snowshoe, West Virginia, Squaw Valley, California, Steamboat Ski & Resort Corporation, Colorado, Stratton, Vermont, Tremblant, Quebec, and Winter Park Resort, Colorado.  As Mammoth is discovered by more people because of the new ownership and other resorts under their umbrella, perhaps this will drive more demand to owning real estate and prices will continue to rise. 

The current inventory levels have increased over the past couple of weeks, however, inventory levels are still quite low for late August.  There are 58 homes on the market, 85 condos and 46 lots.  Inventory for this time of year is usually double the amount for condos, which have been very popular under the $500K price point during spring and early to mid-summer months.  As of today, there are a total of 16 homes, 53...

54 Bridges Lane, Greyhawk, Mammoth Lakes New Listing

54 Bridges Lane front of home from streetNew to market, this masterpiece of a home is a “one of a kind” in Mammoth Lakes.  Designed by the Landry Group and built by Finton Construction in 2011, this could arguably be one of the top 3 homes in all of Mammoth Lakes.  Only the highest quality of stone, fixtures, architectural details and exquisite décor were used to create this luxurious home located in the 54 Bridges Lane Living Room Greyhawk subdivision above Eagle Lodge, which is one of the top and most exclusive neighborhoods in Mammoth.  The magnificent interiors include 6 bedrooms,6 ½ baths, heated 2-car garage, well-designed and large mudroom, 2 separate living spaces, custom and state-of-the art cinema with leather recliners, billiard room, spacious gourmet kitchen, French Limestone flooring, hydronic heating in floors, monitored security system, integrated surround sound, multiple balconies to capture the spectacular views, steam shower in the master bath, mother-of-pearl mosaic tiling up the walls in the guest bathroom, marble, quartz and a variety of high-end finishes throughout. 

54 Bridges Lane Great Room54 Bridges Lane...

Mammoth Lakes Real Estate Market Conditions August 8, 2017

Snowcreek Meadow with Wildflowers and Mammoth Rock in BackgroundWe’ve had some gorgeous summer weather in Mammoth Lakes with the exception of this past weekend, with some heavy rains on Saturday during the “Blues and Brews” festival.  The meadows and the foliage are spectacular this year.  Wildflowers of every variety seemed to have popped up after the rainstorm this weekend.  Mammoth Mountain officially closed this weekend for skiing, but the recreation continues with the mountain bike park in full swing.  Warm temperatures are expected to continue (low to mid 70s) over the next 10 days. 
As of today, Tuesday, August 8th, 2017, the Mammoth Real Estate market has 54 homes, 80 condos and 43 lot listings for sale.  There is currently a total of 47 condos in escrow, 18 homes in escrow, and 3 vacant land listings in escrow.  Condo pending sales data is as follows:  Average days on market at 78, median days on market at 43, highest list price at $1,149,000, lowest list price at $150,000, average list price at $432,280, and total sales volume for condos in escrow at $20,317,200.  Single family homes pending sales data is as follows: Average days on market at 113, median days on market at 53, highest list price at $3,200,000, lowest list price at $274,500 (USFS cabin), average list price at $862,852, median list price at $790,000 and total sales volume of homes in escrow at $14,668,500.  Out of the 3 vacant land listings in escrow, one is located at the Bluffs with a list price of $419,000. 
13 Larkspur House Near Village Multiple Offers...

Mammoth Mountain Resorts Purchase Complete & Market Conditions

Mammoth Mountain Ski AreaIt’s now official; Mammoth Mountain Resorts has changed ownership.  KSL Capital Partners (KSL) and Henry Crown and Company (HCC) have completed the purchase, which includes Mammoth Mountain ski area, June Mountain, Bear Mountain and Snow Summit.  KSL and HCC also own Canadian Mountain Holidays (CMH) heli-ski operation, various real estate businesses, Squaw Valley in California, Alpine Meadows in California, Steamboat ski resort in Colorado, Winter Park in Colorado, Blue Mountain in Ontario, Mont Tremblant in Quebec, Stratton Mountain in Vermont, and Snowshoe Mountain Resort in West Virginia.
Along with the completed purchase of Mammoth Mountain resorts, changes to the leadership and management structure have been implemented.  Bryan Traficanti of KSL is now the interim Chief Executive Officer of the new company until the position is filled.  Thomas Marano, Chief Executive Officer of Intrawest resigned, Rusty Gregory, Mammoth Resort’s Chairman and CEO, is now an investor in the new company and will serve on the Board, and become Senior Strategic Advisor to the new company.  Mark Brownlie is the newly appointed President and COO of Mammoth Resorts.
The statement below was released yesterday by the new company’s (KSL & HCC) interim CEO, Bryan Traficanti: “This transaction marks a significant milestone for our company, our guests, and our communities, and we are excited about the opportunities that lie ahead as a result of combining Intrawest, Squaw Valley Ski Holdings, and Mammoth Resorts. “We believe that each resort brings something different to the company, and our goal is to preserve the unique character and culture of each while also building something greater. Supported by affiliates of KSL and...

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